All that glitters is not gold: the re-use of securities collateral as a source of systemic risk
<p>Since the 1980s, regulators in the U.S. and the U.K. have protected the collateral taker’s right to re-use securities collateral in securities financing and OTC derivatives markets on the understanding that it would promote liquidity and credit growth, and reduce systemic risk. However, thi...
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2017
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